Guangdong Tungsten Enterprise Raises Long-Term Contract Prices for First Half of June

[SMM Tungsten Express] Koba Resources reported high-grade rock chip sample results from its Mt Garnet tin-tungsten project in Queensland, including assays of 13.20% W, 5.40% W and 5% W, with tin grades up to 7.70% and 6.00%. The company has prioritized six prospects for follow-up, with soil sampling, mapping and further rock-chip sampling planned for August to define mineralized trends and advance targets toward drilling.

[SMM Tungsten Express] Viscount Mining has initiated a systematic tungsten evaluation program at its Cherry Creek project in Nevada. The district has a tungsten mining history spanning over a century and was a key strategic mineral producer during World War II, with the Ticup Mine being a past-producing asset wholly owned by Viscount. An estimated over 30,000 short tons of tungsten were produced from the Cherry Creek district through 1958. The company has compiled a geochemical database of over 5,000 rock and soil samples to advance the project toward drill-ready targets.

[SMM Tungsten Express] Australian mining billionaire Andrew Forrest has agreed to acquire Oaktree Capital's 16.8% stake in EQ Resources (approximately 862.1 million shares) for US$133 million, becoming the company's largest shareholder. EQR shares closed over 34% higher on Monday, with a market capitalization of A$1.52 billion. The company stated the deal is a strong endorsement of EQR's position as the largest Western tungsten producer, at a critical time when Western governments are accelerating efforts to secure non-China tungsten supply.